If you are planning to do a fixed deposit (FD) of your money, then you should know a few things. A fixed deposit is a financial instrument provided by the bank on which you get an interest rate till the date of maturity and the interest rate on FDs is more than the savings account. The interests rate provided on FD is different for every bank and the rate of interest also varies. Let’s take a look at some major bank interest rates. These include both private and public sector banks.
Interest rates of different banks on one year FD
Union Bank (5.25%) is paying the highest interest on FD for one year. Apart from this, SBI is giving interest of 4.90%, Canara Bank 5.20%, Punjab National Bank 5.20% and Bank of India 5.25%. For more information, you can contact the nearest branch of the bank.
Interest rates of various banks on two-year FD
If you have to do an FD for two years, Union Bank is giving the highest interest rate. This bank is offering 5.50 per cent interest on one year FD. Apart from this, SBI is offering 5.10%, Canara Bank 5.40%, Punjab National Bank 5.20% and Bank of India 5.30%.
Different banks’ interest rates on three-year FD
If you do an FD for three years, Union Bank is giving the highest interest rate. This bank is offering 5.55 per cent interest on one year FD. Apart from this, SBI is offering 5.30%, Canara Bank 5.50%, Punjab National Bank 5.30% and Bank of India 5.30%.
Interest rates of various banks on five-year FD
If you do an FD for five years, Union Bank (5.60%) is offering the highest interest rate. Apart from this, SBI is giving interest of 5.40%, Canara Bank 5.50%, Punjab National Bank 5.30% and Bank of India 5.30%. The interest rates of all banks change from time to time. Before investing the money get the proper information by visiting the bank.
